Cypress Development Completes Definitive Agreement with Dajin Resources
Suite 1610 - 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.cypressdevelopmentcorp.com
TSX Venture Exchange Symbol: CYP
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
NEWS RELEASE
November 8, 2018
Cypress Development Completes Definitive Agreement with Dajin
Resources
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or the “Company”) is pleased to announce that it has
entered into a Definitive A greement with Dajin Resources Corp. (TSX -V: DJI) on
Dajin’s Alkali Spring Valley Lithium Property, in Esmeralda County, Nevada.
Under the terms of the agreement, Cypress has the exclusive right and option to
acquire a 50% undivided interest in Dajin’s 145 unpatented mining claims and
application for water rights in Alkali Spring Valley by paying to Dajin US$50,000 and
issuing 150,000 common shares upon TSX Venture Exchange (“Exchange”) approval
and issuing a further 150,000 shares on the first anniversary of Exchange approval.
The Company must incur no less than US$450,000 in exploration expenditures by the
second anniversary of Exchange approval. Upon successful completion of the earn-in
period a joint venture (JV) will be created.
Cypress Development CEO, Dr. Bill Willoughby, commented: “Cypress is pleased to
enter into this Definitive Agreement and have the opportunity to work with Dajin.
Besides explor ing for lithium in Alkali Spring Valley , t he JV presents potential
synergies with Cypress’ Clayton Valley Lithium Project, particularly with respect to
water supply. Cypress recently completed an oversubscribed private placement, which
will enable us to complete upcoming milestones for Clayton Valley, including further
drilling, metallurgical study, and a pre -feasibility study, as well as pursue exploration
and a water rights application for Alkali Spring Valley with Dajin.”
This agreement is subject to Exchange approval. All shares issued will be subject to
a hold period of four months and one day from issuance.
About Cypress Development Corp.:
Cypress Development Corp. is a publicly traded exploration company focused on
developing the Company's 100%-owned Clayton Valley Lithium Project in Nevada.
Exploration and development by Cypress has discovered a world-class resource of
lithium-bearing claystone adjacent to Albemarle's Silver Peak mine, North America's
only lithium brine operation.
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To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website
at www.cypressdevelopmentcorp.com.
CYPRESS DEVELOPMENT CORP.
“Dr. Bill Willoughby”
WILLIAM WILLOUGHBY, PhD., PE
Chief Executive Officer
For further information contact myself or:
Don Myers
Cypress Development Corp.
Director, Corporate Communications
Telephone: 604-639-3851
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY O F THE
CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward -looking
statements". All statements in this release, other than statements of historical facts, that
address events or developments that managem ent of the Company expects, are forward -
looking statements. Although management believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance, and actual results or developments may differ materially
from those in the forward-looking statements. The Company undertakes no obligation to update
these forward -looking statements if management's beliefs, estimates or opinions, or other
factors, should change. Fa ctors that could cause actual results to differ materially from those
in forward-looking statements, include market prices, exploration and development successes,
continued availability of capital and financing, and general economic, market or business
conditions. Please see the public filings of the Company at www.sedar.com for further
information.